Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,872,615.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Iron Mountain Stock Down 2.4 %

NYSE IRM opened at $113.16 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day simple moving average of $119.46 and a 200 day simple moving average of $102.63. Iron Mountain Incorporated has a twelve month low of $61.59 and a twelve month high of $130.24. The stock has a market cap of $33.21 billion, a PE ratio of 314.33, a PEG ratio of 6.86 and a beta of 0.99.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.44%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IRM. Barclays upped their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $129.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Envestnet Portfolio Solutions Inc. lifted its stake in Iron Mountain by 69.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,552 shares of the financial services provider’s stock worth $2,050,000 after purchasing an additional 10,461 shares during the period. Atomi Financial Group Inc. bought a new position in Iron Mountain during the first quarter worth about $224,000. Meeder Advisory Services Inc. bought a new position in Iron Mountain during the first quarter worth about $215,000. Headlands Technologies LLC bought a new position in Iron Mountain during the first quarter worth about $38,000. Finally, Bleakley Financial Group LLC lifted its stake in Iron Mountain by 2.2% during the first quarter. Bleakley Financial Group LLC now owns 16,565 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 353 shares during the period. Institutional investors own 80.13% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.